Get All Access for $5/mo

Panasonic to Raise Funds for Tesla Plant Japan's Panasonic said on Friday it would raise up to $3.86 billion in corporate bonds, partly because it needs to bring forward its investment in a Tesla Motors battery factory.

By Reuters

This story originally appeared on Reuters

Bloomberg | Getty Images

Japan's Panasonic Corp. said on Friday it would raise up to 400 billion yen ($3.86 billion) in corporate bonds, partly because it needs to bring forward its investment in a Tesla Motors Inc. battery factory.

Panasonic plans to respond to brisk demand for the electric car maker's upcoming Model 3 sedan, Senior Managing Director Hideaki Kawai told reporters after the company reported earnings.

"In the near term, strategic investment (from the money raised) would be mostly in Tesla's Gigafactory. There is a need to speed up investment," Kawai said.

(Reporting by Makiko Yamazaki; Editing by Christopher Cushing)

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Editor's Pick

Most Popular

See all
Business News

This 28-Year-Old Entrepreneur With Down Syndrome Runs the World's Largest Sock Company. Here's How He Started It.

The eight-year-old company recently hit a record number of orders.

By Sherin Shibu
Science & Technology

5 Rule-Bending AI Hacks to Make Your Mornings More Productive and Profitable

By 2025, AI will transform productivity by streamlining workflows and cutting costs. Major companies like Microsoft, Google, and OpenAI are leading the way, advancing AI into "Phase 3," where tools act as digital assistants. Discover 5 AI hacks to boost efficiency and redefine your daily routine.

By Ben Angel
Side Hustle

'Hustling Every Day': These Friends Started a Side Hustle With $2,500 Each — It 'Snowballed' to Over $500,000 and Became a Multimillion-Dollar Brand

Paris Emily Nicholson and Saskia Teje Jenkins had a 2020 brainstorm session that led to a lucrative business.

By Amanda Breen
Operations & Logistics

The Holidays Mean Vacation Time — But Disaster Can Still Strike. Is Your Crisis Plan Ready?

Holidays mean different working hours for companies and different schedules for employees that take off. Before you and your team enjoy some much deserved time off, it is important to put a crisis management plan in place so your business is ready to tackle any issue that crops up.

By Lesley Pyle
Marketing

5 Critical Mistakes to Avoid When Giving a Presentation

Are you tired of enduring dull presentations? Over the years, I have compiled a list of common presentation mistakes and how to avoid them. Here are my top five tips.

By Cynthia Kay
By Sherin Shibu